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MacroBusiness Thursday, January 21, 2021 - 12:00 Source

Via the AFR: In comments that would be reassuring to the Morrison government, incoming Secretary of State Tony Blinken described the revitalisation of America’s core alliances as “force multipliers of our influence around the world” and would seek to stop China setting the rules and norms for the 21st century. “I think, as we’re thinking

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MacroBusiness Thursday, January 21, 2021 - 12:00 Source

In today’s investment webinar (LIVE 12:30pm AEST), MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Head of Advice Tim Fuller ask the million dollar question: Will Biden cause Market boom or market bust? President Joe plans to begin immediately unwinding his predecessor’s policies on immigration, climate and other issues on

The post MB Fund Podcast: Biden boom or bust? LIVE 12:30 AEST appeared first on MacroBusiness.

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Renew Economy Thursday, January 21, 2021 - 11:59 Source

Despite big wins for Democrats, the most conservative within the party have the power to hold back action. Just like Australia's opposition.

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MacroBusiness Thursday, January 21, 2021 - 11:47 Source

The ABS has released its labour market report for December, which shows a strong increase in jobs as well as a 0.2% decline in the headline unemployment rate to 6.6%: Key statistics Seasonally adjusted estimates for December 2020: Unemployment rate decreased to 6.6%. Participation rate increased to 66.2%. Employment increased to 12,910,800. Employment to population

The post ABS: Jobs up, unemployment down in December appeared first on MacroBusiness.

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MacroBusiness Thursday, January 21, 2021 - 11:40 Source

Via FTAlphaville:  It’s not often you come across a chart that makes you immediately spit your peppermint tea out, copy and paste the link, and send it to all your finance banter WhatsApp groups (soon to be Signal, obvs). So it is with great pleasure that we present to you the below from Jim Bianco

The post The tech bubble groweth appeared first on MacroBusiness.

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MacroBusiness Thursday, January 21, 2021 - 11:20 Source

Via BofA: A unique feature of the COVID shock is its highly unequal impact on goods versusservicesspending. •Normally fiscal stimulus causes a surge in both goods and servicesspending; in thiscycle services spending could not respond. •The combination of aggressive fiscal stimulus and constraints on spending hascreated a massive surge in“excess”saving. •The recent actual and proposed

The post American consumer in rude health appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, January 21, 2021 - 11:04 Source

As Scott Morrison plays to a Queensland audience to launch his government’s supposed “gas led recovery”, absent is any mention of climate change, the environment, water and biodiversity.  Which is hardly surprising since they patently don’t give a toss about such things. In June last year, the Australian National Audit Office published their findings on…

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MacroBusiness Thursday, January 21, 2021 - 11:00 Source

In yesterday’s article entitled “Why housing construction will crash in 2022”, I warned that the property lobby would intensely lobby the federal government to restore mass immigration: “…expect to see intense lobbying from property groups calling on the federal government to provide more subsidies, as well as to open Australia to migrants. Without a return

The post Property Council CEO demands mass immigration appeared first on MacroBusiness.

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MacroBusiness Thursday, January 21, 2021 - 10:40 Source

Roy Morgan Research’s business confidence survey for December has reported booming conditions, with confidence surging to a three year high: In December 2020 Roy Morgan Business Confidence jumped 14.1pts (+12.9%) to 123.2 – the highest monthly reading for three years since January 2018 (123.5). Business Confidence has now increased a record 37.6pts (+43.9%) over the

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Renew Economy Thursday, January 21, 2021 - 10:20 Source

New data suggest a mind-boggling installation rate for wind power in China in 2020, but must be maintained for many more years to cut coal.

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MacroBusiness Thursday, January 21, 2021 - 10:20 Source

So says Bloomie: Pfizer Inc. and BioNTech SE built the case that their Covid-19 vaccine will protect against the new variant of the coronavirus that emerged in the U.K. with results of another lab trial. Like previous work out of the University of Texas Medical Branch, the results published on Wednesday showed that antibodies in

The post Pfizer vaccine “likely” works on COVID mutant appeared first on MacroBusiness.

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MacroBusiness Thursday, January 21, 2021 - 10:00 Source

Via The Australian comes another useless sop to the gas export cartel: Scott Morrison has struck a two-year deal with large east-coast LNG exporters to offer uncontracted gas first to Australian companies, in a bid to keep prices down and lower costs for manufacturers as part of the government’s COVID-19 recovery plan. But the deal,

The post Aussies plundered as ScoMo sends cheap gas to China appeared first on MacroBusiness.

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MacroBusiness Thursday, January 21, 2021 - 09:41 Source

Iron ore prices for January 20, 2021: Spot and paper down. Steel is OK. The latest outlook for the Port Hedland cyclone is improved: This market is making me nervous. It’s very high. Xi has shattered Dalian volumes. Without further weather disruptions, it’s feeling toppy.

The post Daily iron ore price update (easing winds) appeared first on MacroBusiness.

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MacroBusiness Thursday, January 21, 2021 - 09:20 Source

Via Societe General: EUR/CNH may be the most important FX pair in the world now ◼We move from Janet Yellen’s confirmation hearing to the new President’s inauguration, which is likely to see more pomp and ceremony and less cause for markets to move. The main economic data point of the day came from slightly higher

The post SocGen: Australian dollar rises “favoured long-term view” appeared first on MacroBusiness.

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